Guild Holdings, which provides personalized mortgage services and loan origination, announced terms for its IPO on Thursday.
The San Diego, CA-based company plans to raise $153 million by offering 8.5 million shares (100% insider) at a price range of $17 to $19. At the midpoint of the proposed range, Guild Holdings would command a fully diluted market value of $1.1 billion.
With its 60 year history, the company is among the longest operating seller-servicers in the US, expanding its retail origination footprint to 31 states. Guild has developed end-to-end technology systems that allow it to provide a personalized approach to mortgage services and build a scalable platform for business growth.
Guild Holdings was founded in 1960 and booked $1.1 billion in revenue for the 12 months ended June 30, 2020. It plans to list on the NYSE under the symbol GHLD. Wells Fargo Securities, BofA Securities, J.P. Morgan and JMP Securities are the joint bookrunners on the deal. It is expected to price during the week of October 19, 2020.
